(2 March 2004 – Australia) Bank of Queensland has raised some $90 million in additional capital to support the bank’s expanding asset portfolio.The bank raised the capital through the issue of about 4.65 million ordinary shares and $40 million of Series 1 Reset Preference shares (S1RPS).
BOQ managing director David Liddy said the continued success of the bank’s capital raising initiatives allowed it to sustain strong growth and diversify its shareholder base by attracting several new institutional investors.
He said he expected retail shareholders to have the opportunity to take part in further capital raising over the next six to 12 months.
The 4.65 million shares were issued at a price of $10.75 per share.
“The pricing outcome was at the top end of our range. The placement was well supported by institutional investors and was issued at a 3.5 percent discount to Monday’s closing price,” Liddy said.
ABN Amro Rothschild was the arrangers and underwriters for $30 million of the ordinary share placement. Macquarie Equity Capital Markets acted as arranger to the S1RPS placement.